China says it will encourage the development of new industries. That's according to a five-year plan for strategic sectors issued by the State Council. The plan says China will lift the percentage of strategic new industries to 15 percent of Gross Domestic Product by 2020.

China by then will have five sectors each valued at 10 trillion yuan. The five include new generation information technology, high-end manufacturing, biotechnology, low carbon technology and the digital creative industry. The five sectors expected to generate more than one million jobs.

The paper said that by 2030 China will become a global production and innovation center for the new sectors.